Market Update Archive
June 25, 2010
Dairy Market Update: Wholesale Prices Recover from Last Year's Lows
By Bob Yonkers, IDFA Chief Economist, Ph.D. While dairy market prices have moved both up and down in the first half of 2010, wholesale dairy product prices on average clearly have recovered from the low levels seen last year. In fact, weekly prices so far in 2010, as published by the National Agricultural Statistics Service (NASS), have averaged above...
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May 28, 2010
Dairy Market Update: USDA Outlook Predicts Continued Strength
By Bob Yonkers, IDFA Chief Economist, Ph.D. Heading into the summer of 2010, dairy markets in the United States and abroad have recovered from the distress of 2009. According to the U.S. Department of Agriculture, the outlook is for continued strength in dairy markets. On the supply side, U.S. farm milk production increased by 1.5 percent in April...
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April 30, 2010
Market Update: Farm Share of Retail Dairy Price Not Declining over Time
By Bob Yonkers, IDFA Chief Economist, Ph.D. A great deal of attention in the dairy industry has focused lately on farm milk prices and their relationship to retail prices for milk and dairy products. Data from two U.S. Department of Agriculture resources demonstrate that the farm value of a dairy retail market basket varies from year to year, but it...
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March 26, 2010
Market Update: Spring Brings Cherry Blossoms & Baseline Forecasts to D.C.
By Bob Yonkers, IDFA Chief Economist, Ph.D. Spring in Washington D.C. means more than just cherry blossoms; it is the time when government agencies and others release economic baseline forecasts for the next 10 years. Baselines are important because any and all proposed policy changes are evaluated by comparing the cost to the government versus the...
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February 26, 2010
Dairy Export Volume Slides in 2009, but Value Plummets
By Rob Blaufuss, IDFA Economic Analyst Following a record-setting dairy export year in 2008, the global economic recession caused world demand for dairy products to decline in 2009. This decline in global demand, coupled with increased world milk production, also caused precipitous declines in dairy product prices in 2009 compared to year-ago levels...
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January 29, 2010
Retail Price Trends Anything but Normal in 2009
By Bob Yonkers, IDFA Chief Economist, Ph.D. Consumer prices overall rarely decline from year to year, according to data from the U.S. Bureau of Labor Statistics (BLS), but retail price trends were anything but normal in 2009. In fact, the average Consumer Price Index for All Items in 2009 declined 0.31 percent, the first year-to-year decline since...
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December 31, 2009
Dairy Market Update: What a Difference a Year Makes
By Bob Yonkers, IDFA Chief Economist, Ph.D. As the year comes to a close, dairy markets have rebounded to high price levels not seen prior to 2007's record highs, except for a few months in 2004. What a difference from last year at this time, when dairy markets experienced significant price declines, and many dairy producers were already struggling...
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November 20, 2009
Dairy Market Update: U.S. Dairy Is a Growth Industry
By Bob Yonkers, IDFA Chief Economist, Ph.D. The market for U.S. milk and dairy products, both domestically and internationally, has been growing dramatically in recent decades. As a result, U.S. farm milk production has grown to about 190 billion pounds per year. Looking back, however, U.S. dairy has not always been a growth industry. Prior to 1980...
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October 26, 2009
Market Update: How Quickly Things Change
By Bob Yonkers, IDFA Chief Economist, Ph.D. Less than three months ago, Agriculture Secretary Tom Vilsack announced a temporary increase in purchase prices under the Dairy Product Price Support Program. Prior to that July 31 announcement, the U.S. Department of Agriculture had purchased (or agreed to purchase) 276.8 million pounds of nonfat dry milk...
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September 28, 2009
Market Update: While '08 Sales Decline, U.S. Ranks Third in Global Dairy Exports
By Bob Yonkers, IDFA Chief Economist, Ph.D. At last week's World Dairy Summit, conference participants received a complimentary CD with the 2009 edition of the World Dairy Situation published by the International Dairy Federation (IDF). This annual publication summarizes major trends in dairy production, consumption, trade and prices around the world...
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